399,661 Shares in Universal Insurance Holdings, Inc. (NYSE:UVE) Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 399,661 shares of the insurance provider’s stock, valued at approximately $6,387,000. Sumitomo Mitsui DS Asset Management Company Ltd owned 1.37% of Universal Insurance at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in UVE. CWA Asset Management Group LLC purchased a new position in Universal Insurance during the 3rd quarter valued at about $7,935,000. rhino investment partners Inc purchased a new position in shares of Universal Insurance during the fourth quarter valued at approximately $4,929,000. Invesco Ltd. increased its stake in shares of Universal Insurance by 28.9% during the first quarter. Invesco Ltd. now owns 1,173,582 shares of the insurance provider’s stock valued at $15,831,000 after buying an additional 263,456 shares during the period. Acadian Asset Management LLC increased its stake in shares of Universal Insurance by 250.2% during the third quarter. Acadian Asset Management LLC now owns 339,962 shares of the insurance provider’s stock valued at $4,765,000 after buying an additional 242,895 shares during the period. Finally, State Street Corp increased its stake in shares of Universal Insurance by 22.4% during the first quarter. State Street Corp now owns 1,201,489 shares of the insurance provider’s stock valued at $16,208,000 after buying an additional 219,723 shares during the period. 66.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. StockNews.com raised Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Universal Insurance in a research note on Monday, April 1st. Finally, TheStreet raised Universal Insurance from a “c+” rating to a “b” rating in a research note on Monday, February 26th.

Insiders Place Their Bets

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $19.53, for a total value of $390,600.00. Following the transaction, the chairman now owns 1,191,390 shares in the company, valued at $23,267,846.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.70% of the stock is currently owned by company insiders.

Universal Insurance Price Performance

Shares of UVE stock opened at $19.62 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $568.39 million, a price-to-earnings ratio of 8.92 and a beta of 0.83. Universal Insurance Holdings, Inc. has a twelve month low of $11.15 and a twelve month high of $21.75. The stock has a fifty day simple moving average of $19.25 and a two-hundred day simple moving average of $17.11.

Universal Insurance (NYSE:UVE) last announced its earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.20. The company had revenue of $375.46 million for the quarter, compared to analyst estimates of $328.12 million. Universal Insurance had a return on equity of 18.14% and a net margin of 4.80%. On average, analysts predict that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.64 dividend on an annualized basis and a yield of 3.26%. Universal Insurance’s dividend payout ratio is currently 29.09%.

Universal Insurance Profile

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.